René Muschter
Research Expert covering Industry & Mobility
Commodity prices worldwide - Statistics & Facts
The global commodity market encompasses standardized quantities of raw materials traded across six main categories: precious metals, industrial metals, energy, agricultural goods, livestock, and commodity trading instruments such as futures contracts. Large-scale events have repeatedly triggered sharp price movements across all of these segments: from supply chain disruptions during the COVID-19 pandemic to the energy crisis following Russia's invasion of Ukraine in 2022. The U.S.-Israel war with Iran, which began in early 2026, offers another example, sending prices for precious metals, industrial metals, oil, gas, and certain fertilizers sharply higher. Silver's price index reached 584.15 in February 2026, a gain of nearly 500 percent compared to January 2019 levels, before retreating from March onward. Energy markets were similarly disrupted, with oil benchmarks recording their steepest weekly movement of the year during the same period.
